Buying Tips - How Do I Get the Best Deal?

210delray

The Chevette was related to the I-mark as well IIRC

The may be true for the I-Mark introduced in the US in about 1981 or so, but not the later generation rebadged as a Chevy Spectrum. (And british rover, you're right in that it was a forgettable car.)

IIRC, once GM stopped importing the Opel from Germany, they imported the "Opel by Isuzu," which was a Chevette clone. It was sold by Buick dealers like the German Opel, I believe. This was around 1976, when the Chevette was introduced.

british_rover

Oh and Triple wides...

Arkansas governor triple wide

I second snakes advice. Figure how much you are comfortable paying per month, hold onto the Yukon for a year or two and put that money into some interest bearing account like a money market.

suydam

An alternative is to sell or trade in the Yukon, and buy a "nimble and efficient" used sedan. You could get a very nice '04 Honda Civic or Toyota Camry 4 cyl. (just examples, there are other much cheaper and reliable sedans out there as well), you would not have to finance a large amount, and you would be saving a lot of money on gas over the next two years. And you would be happier driving the vehicle you want. I don't think you would earn enough interest in 2 years to make up for the fact that the Yukon will be worth next to nothing by then.

stickguy

In your post, you said that you no longer needed something so large and thristy. So based on that, and the strong value (plus the fact that you are up to 100K, and it could start getting "needy" real soon), I would say trade it in.

But, if you were just planning to get another big SUV< I would agree with the others that said to keep it and start making payments to yourself.

driveright

I don't think you would earn enough interest in 2 years to make up for the fact that the Yukon will be worth next to nothing by then.

Any new or different used car will also depreciate.

Does your existing car meet your needs? Is the yearly maintenance and repair cost acceptable? Is the frequency of repair acceptable? How many miles will it take for the savings on fuel costs on a new or newer vehicle to be repaid?

I'll bet that the decision will be clear when these questions are answered.

isellhondas

I would be VERY nervous driving a car or riding in a car with no seat belts. If and when I ever buy another collector car, I don't care what it is, I WILL have seatbelts installed!

210delray

Same with me; I'd at least have lap belts installed. (These seem very common on older cars that I see at car shows.) Some people even retrofit shoulder belts, but I'm not sure most older cars have the structural support to allow this (especially hardtops without B-pillars).

Even then, I'd drive such a car (say pre-1968) only on relatively traffic-free back roads in nice weather.

jmonroe

I don't know if this is true or not but, I heard they make two story trailers for rich people.

It's true...that's what I have except we like to refer to them as "modular homes".

jmonroe

jmonroe

I would be VERY nervous driving a car or riding in a car with no seat belts. If and when I ever buy another collector car, I don't care what it is, I WILL have seatbelts installed!

I knew if we worked at it long enough we'd agree on something. :shades:

jmonroe

isellhondas

Not the first time, far from it.

isellhondas

Rust?? What's that?

jipster

Rust? What's that?

I guess you're trying to say you've never seen rust on a Honda huh? Only on those "cheap throw aways" jmonroe and snake own. Ohhhh dawg... that's hitting below the belt. You keep hitting below the belt like that and jmonroe or snake won't be able to have anymore kids. :lemon:

isellhondas

Of course I've seen rust. I'm a West Coast guy, that's all!

jipster

Oh, well then... never mind.

jmonroe

You keep hitting below the belt like that and jmonroe or snake won't be able to have anymore kids.

I don't know about 'snake' but I'm done with that stuff and have been for quite sometime. Although I still don't want the pain (I threw that metal thingy away a few years ago).

jmonroe

snakeweasel

I don't know if this is true or not but, I heard they make two story trailers for rich people.

Do you mean something like this?

snakeweasel

Only on those "cheap throw aways" jmonroe and snake own.

7 midwest winters and no rust on my "cheao throw away" yet.

madmanmoo

Ahhahaha. I love it.

:shades:

-Moo

mafinch

Well, I'm making a trip out to "dealer row" today to see who will make be the best deal on my 2x2 deal. To keep the dealer from taking control I will let him know what I want from each trade and the price for each car and deal from there. I have done enough "research" and have been preparing myself to just walk away when the dealer starts to play his games with me and the sales manager. Wish me luck!

british_rover

He means his trade in two cars and buy two cars all at the same time deal. You know the one we have been discussing for the past few days.

Keep up with the discussion please.

british_rover

The above post was in reference to Joe's post when he was lost.

Not sure what happened to his post if he deleted it or if the host deleted it.

jmonroe

Not sure what happened to his post if he deleted it or if the host deleted it.

There is something going on here that needs explained. :confuse:

jmonroe

tidester

There is something going on here that needs explained.

No explanation is needed. Let's move on.

tidester, host
SUVs and Smart Shopper

jipster

LOL, that emotioncon is hilarious... and used with pinpoint accuracy within the context of your post.

Boink Boink Boink (boinkees right eyeball bouncing up and down with each drop of the mallet)

british_rover

Finalgear has good stuff.

Even if you don't like the TV shows Top Gear and Fifth Gear it is worth going there for other things.

jetzzs

Hi,

I have a question. We went to the dealership this weekend to try to work out a deal on a Honda Odyssey. We got a very helpful and knowledgeable salesman. At one point he brought out another salesman (not sure if he was a manager or not)to discuss out trade-in.

It just so happens that this second salesman had sold us a BMW at another dealership. He had also called a few months ago to let us know he had moved to the Acura dealership and to see if we were in the market for a car.

My question is, are we marked as a customer of the second salesman because he has done business with us in the past and he contacted me from their sister dealership?

I was hoping the first salesman would not have to split his commission with the second salesman because he was not totally up front with us on our BMW purchase.

Thanks so much for any input.

jetzzs

madmanmoo

Good question,

You're the the very helpful and knowledgeable salesman's customer. I would make it clear to him that you don't want to work with the other salesman if you didn't have a good relationship with him.

This should not be a split by any means.

-Moo

Kirstie_H

A reporter would like to speak to owners who paid cash to purchase their car or had seriously considered paying cash for their car, but decided against it. Please respond to ctalati@edmunds.com no later than July 19, 2007 with your daytime contact information.

jipster

new or used(pre-owned)?

Kirstie_H

Not specified. I am guessing they're not interested in someone who plopped down $3K for a beater, but more like someone who chose cash instead of traditional financing.

greanpea68

Does that mean paid cash to a dealer because they got a loan through their credit union instead of traditional dealer financing ? Or does it mean they wrote a check from their bank account or took from their 401k etc...?

oldfarmer50

"...Does that mean...?"

I think it means brought in piles of one dollar bills in coffee cans or bushel baskets with the dirt from the back yard still clinging to it. :P

milem

Hello,

Your message made me wonder: can we get better deal buying "cash" (even if it's paying with a certified check from our own bank) ?

I'm actually waiting for some quotes and would like to know if this will help me get a better deal or if it doesn't matter to the dealer ??

Thank's

210delray

It makes no difference, except you won't get fleeced for a loan through the dealer.

nortsr1

210delray...Why do you make a statement like that. The are MANY times when a dealer can beat a rate that someone has obtained elsewhere!!! Many manufacturers offer LOW percentage rates that simply CANNOT be beaten by competitors.
I think the best way to purchase when you are financing is to get a rate beforehand, then ask the dealer his rate, and if close enough, tell the dealer the rate you obtained elsewhere...and...many times, they will match or BEAT that rate!!!
Simply stateing "except you won't get fleeced for a loan through the dealer" is a pretty harsh and unrealistic statement!!!!

And NO, I am not in the car sales business!!!

oldfarmer50

"...can we get a better deal paying cash..."

I always thought so. However after reading these forums for the past several months it seems to not be quite so clear.

If I understand this correctly, the dealer gets what is in effect a "volume" discount from banks. This can be in the form of lower interest rates or in the form of commissions the bank gives for each loan processed. This means that the dealer can sometimes get money from your bank cheaper than you can.

I say sometimes because the dealer is under no obligation to pass any of his savings on to you. This means that the dealer can make more money if you finance than if you pay cash. He still gets paid in "cash" from the bank plus a little bonus for arranging the financing.

greanpea68

I think in the old days you would get a better deal when you paid cash because Financing would take a few days. I am talking before the times of today with instant approvals. Back when a fax would take three days from what I hear. I think the dealer would say " if you pay cash today we'll save you $500 more". Because they wouldn't have to gamble on getting approvals from banks and also waiting for the approval was a lot longer.

I know today it doesn't make a differance to me if you finance with our banks, pay cash, borrow from your credit union, or borrow from the mafia.

If someone is paying cash today I would try and charge more for the vehicle because the dealership wouldn't be making any money from the reserve of the loan.

210delray

The remark was somewhat tongue-in-cheek.

I know the manufacturer financing can be a great deal; I'm paying 2.9% on the loan on my '04 Camry financed through Toyota Financial Services (plus I received a $750 rebate).

But I'm also aware of the recent brouhaha involving "padding" of the interest rate on loans offered by dealers, especially where the padding varied depending on one's ethnic origin.

british_rover

especially where the padding varied depending on one's ethnic origin.

Fixed that for you. Changes the meaning of the sentence a good bit.

210delray

Thanks -- some things spell check won't catch. I fixed it.

For those of you who missed it, I mistakenly said especially where the padding varied depending on one's ethic origin.

Although this might be true too, at least for really obnoxious customers! :P

british_rover

Although this might be true too, at least for really obnoxious customers!

eeggxxacttllyyyy.... :sick:

oldfarmer50

A while back I commented on the wacky mark-ups I see at my local dealers selling used cars. As I look through their inventory I occasionally see a car I like. I look the car up in KBB, NADA and here on Edmunds. It's bad enough that the "value" of these vehicles varies widely between sources but what I can't understand is most vehicles have a dealer asking price of almost $2000 over the highest "retail-excellent" price listed in the books.

What would cause this? Is upstate NY such a wealthy area that the market demands such mark-ups? (If you lived here you would know that I'm being sarcastic).

I guess the dealers around here figure that the internet is just a faze and no one will find out about the rip-off.

How would you suggest I handle a situation where a car is grossly over priced? The last time I mentioned this to a salesman I was told that the books don't keep up with the fact that domestic cars go UP in value over time.

cccompson

In the absence of any illegal restraint of trade, prices are set by the market - period.

Have you compared the prices of the cars you've liked with asking prices for the same car in other markets?

Remember that asking prices are not the same as selling prices.

guss

Used car prices are odd because any other retail establishment advertises low prices to get you in the doors.

Car dealers I know leave room to negotiate , but sometimes it is ridiculous the amount of wiggle room. On lower priced cars the gap between asking and real value can be huge.

if a dealer has a car that I am interested in but is asking way more for it than the guy down the street I will not bother with them. It's just not worth it to get them to where they should be.

oldfarmer50

"...prices are set by the market-period..."

Of course they are. Hence my comment about the "wealthy" upstate market. But aren't the books I mentioned adjusted by region. After all they ask for you zip code. My question is asking if this pricing is a strategy dealers use to make the buyer think they are getting a big discount when the dealer drops 1K off a 2K inflated price.

"...Have you compared...with asking prices...in other markets?..."

No I haven't but statements by sales folks on this and other forums indicates that most of them would list their used cars at KBB-excellent not 2K above that. Still, it might prove interesting to check out other areas. Thanks.

jipster

if this a strategy dealers use to make the buyer think...

This seems to be a universally accepted practice in pricing used cars. It is used the same as rebates and discounts on new cars. Get the buyer through the doors, then big discount to let them think they are getting a great deal.

Dealerships really clean up on used car sales as opposed to new. Don't really read much about how to get the best deal on a used car... which takes a lot more skill, knowledge and finesse in my opinion. Dealers buy at auction value... not trade in value. So, I think it good strategy to start at trade-in value and pay no higher than private sale value when buying retail used. Pay no attention whatsoever to what the car is listed at.

mafinch

I am actually looking to go the donation route

joel0622

It makes no difference, except you won't get fleeced for a loan through the dealer.

Ya instead you can get fleeced at your own credit union or bank.

mikefm58

Ya instead you can get fleeced at your own credit union or bank.

I can't answer for the banks but for credit unions you are outright wrong. I have had nothing but good experiences with my local credit union.

joel0622

They are no different then the rest, some good, some bad, some down right crooked. of course they should be cheaper, there lending your money and not having to play by the same rules as the banks and captives. But like most things that is just not enough for some. A local credit union here who caters to the folks at Dupont but have loosened up there membership requirements to basically if you have ever driven through or know some one who has driven through the state of TN then you qualify has started telling folks that there GAP insurance is mandatory and you can't have loan with out it. Let me try that and I will be on 20/20 or Date Line, let a credit union do it and they are just taking care of there members.